About Car Leasing
Leasing a car is a system of possessing a brand new or used car by paying to use it for a definite time. Many vendors offer a range of vehicles that can be leased by customers for a period as and when required. Leasing is similar to renting a car; however, the former is for a relatively long period. It involves two parties: A lessor and a lessee. Car leasing is not as same as buying a car or renting one. It is an arrangement wherein a customer pays the leasing company for the right to drive a car.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 11.53% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that European Vendors will contribute the maximum growth to Global Car Leasing market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
LeasePlan (Netherlands), Volkswagen Leasing Services (Germany), Deutsche Leasing AG (Germany), Societe Generale (France), General Motors Financial Company, Inc. (United States), Athlon (Netherlands), Alphabet (Germany), ARVAL (France), Mercedes - Benz Financial Services (United States), ALD Automotive (France) and Natixis Leasing (France) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Car Leasing market by Type (Closed-end Leases, Open-end Leases, Subvented Leases, Single Payment Leases, Used Leases and Short-term and Long-term Leases), Application (Construction, Mining/Oil & Gas, Transportation, Private Use and Others) and Region.
On the basis of geography, the market of Car Leasing has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Lease Type, the sub-segment i.e. Finance Lease will boost the Car Leasing market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Provider, the sub-segment i.e. OEM/Captives will boost the Car Leasing market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Mobility-as-a-Service is Gaining Popularity in the Auto Sector
Market Growth Drivers:
Increasing the Number of Young Consumers and Demand for Mobility among Consumers with Relatively Low Spending Power and Rise in Maintenance Cost, Taxes, and Fuel Cost Associated with Car Ownership is Prompting Consumers to Lease and Use Cars
Challenges:
Consumers Inclination Towards the Ownership of the Car
Restraints:
Lower Credit Bearing Capacity of Banks and Financial Institutions
Opportunities:
Rising Popularity of Car Leasing in Emerging Economies Like India, China, and Brazil
Market Leaders and their expansionary development strategies
On 24th January 2019, Macquarie Corporate and Asset Finance (Macquarie) – the specialist asset finance division of Macquarie Group – has announced an initial Pound 1.2 million equity investment in the UK vehicle leasing business XL Group.
Key Target Audience
Car Leasing Providers, Car Manufacturing Companies, Research Organizations and Consulting Companies, Potential Technology Investors, Regulatory & Government Bodies, Downstream Vendors, End Users and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.